Exhibit 10.1
SEPARATION AGREEMENT
AND GENERAL RELEASE OF CLAIMS
This Separation Agreement and General Release of Claims (“Agreement”) is made and entered into by Paul Colvin (“Employee” or “You” or “Your”) and Syneos Health, Inc., any parent, subsidiary, affiliate, successor, predecessor or otherwise related companies, and the past, present, and future employees, agents, officers, attorneys, directors, shareholders, members, managers and employee benefit programs of any of them, and their agents and insurers (collectively, referred to in this Agreement as “Syneos Health” or the “Company”). This Agreement supersedes all prior employment agreements or arrangements of any kind Employee may have entered into with the Company. This Agreement shall become effective as of the Effective Date defined below.
This Agreement is the product of negotiation and compromise between Employee and the Company. Employee has carefully considered other alternatives to executing this Agreement. In consideration of the severance pay and benefits (“Severance Benefits”) provided to Employee as set forth in the Syneos Health, Inc.’s Executive Severance Plan (the “Severance Plan”) and in more detail below, it is agreed by the parties as follows:
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Jonathan Olefson
General Counsel
Syneos Health, Inc.
1030 Sync Street
Morrisville, NC 27560
jonathan.olefson@syneoshealth.com
[signature page follows]
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I HAVE READ THIS GENERAL RELEASE THOROUGHLY, UNDERSTAND ITS TERMS AND HAVE SIGNED IT KNOWINGLY AND VOLUNTARILY. I UNDERSTAND THAT THIS GENERAL RELEASE IS A LEGAL DOCUMENT.
IN WITNESS WHEREOF, Employee has executed this Release Agreement as of the date set forth below.
Dated: 8/1/2022 | Paul Colvin /s/ Paul Colvin
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Dated: 7/28/2022 |
Received, Acknowledged and Accepted: SYNEOS HEALTH, INC.
By: /a/ Jonathan Olefson Name: Jonathan Olefson Its: General Counsel |
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© 2021 All rights reserved | Confidential | For Syneos HealthTM use only
Exhibit A
SUPPLEMENTAL RELEASE AGREEMENT
By signing this Supplemental Release Agreement where indicated below, I acknowledge and agree that I am hereby extending, through and including the date I sign below, the application of all of my representations, obligations, acknowledgements, and other provisions reflected in the Separation Agreement and General Release of Claims, dated July __, 2022 (the “Agreement”) that I entered into relating to my separation from employment with the Company (as defined in the Agreement), including but not limited to my full and binding release and waiver of all claims against the Company or any of the Released Parties (as defined in the Agreement), to the greatest extent permitted under applicable law.
I understand and agree that, pursuant to the terms of the Agreement, I am only eligible to receive certain consideration payments described therein if I timely execute this Supplemental Release and otherwise satisfy all terms and conditions set forth in the Agreement. I further understand and acknowledge that the consideration given for this waiver and release is in addition to anything of value to which I was already entitled.
I agree that my signature below constitutes my certification that I have returned all documents and other items provided to me by the Company, developed or obtained by me in connection with my employment with the Company, or otherwise belonging to the Company, including, but not limited to, all passwords to any software or other programs or data that I used in performing services for the Company.
I understand that I am not to sign and return this Supplemental Release until my Separation Date (as defined in the Agreement), and no later than three (3) days after the Separation Date. I acknowledge that I have been afforded at least twenty-one (21) days to consider this Supplemental Release and I have seven (7) days after I sign this Supplemental Release to revoke it. In the event that I sign this Supplemental Release and return it to the Company in less than this 21-day period, I hereby acknowledge that I have freely and voluntarily chosen to waive the time period allotted for considering this Supplemental Release. This Supplemental Release will become effective on the eighth (8th) day after I sign this Supplemental Release, so long as I have not revoked it before that date I acknowledge and understand that revocation must be accomplished by a written notification to the Company that is received prior to the end of the revocation period. By signing below, I acknowledge that I have read and understand and agree to all the terms of the Agreement and this Supplemental Release, and intend to be bound thereby.
*NOT TO BE SIGNED UNTIL ON/AFTER THE SEPARATION DATE*
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Dated: ___________________________ | Paul Colvin
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© 2021 All rights reserved | Confidential | For Syneos HealthTM use only